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at the new york stock exchange. as we hurry toward the edges of the fiscal cliff, this market holding its breath. but holding up. >> yes, so far. technology one of the few bright spots with apple rebounding after that huge decline we saw yesterday. its worst day in four years. it's got everybody on wall street scratching their heads trying to figure out what the problem is with apple. at any rate, here's where we stands right now. sort of a meandering day for the markets. some economic data out this morning. the market responding to that. then a sideways move after that. the nasdaq benefitting from the rebound in technology yesterday. up 11.5 points on the thatnasda. the s&p is also trading higher. there it is. up 2.5 points on the s&p. >> meanwhile, bullish sentiment at an eight-month high right now. equity allocation is still at the lowest level of the year according to the american association of individual investors survey that was out this weekend. stock in a wait-and-see mode. totally understandable until these fiscal issues are resolved. >> but don't just sit on your hands. there i
to the 88-89 level. the fiscal cliff talks not going anywhere yet. during the next two weeks we will start to see some positive remarks. one thing that is very interesting, heat and oil settled in a very weak position. those two coming off could take the energy complex down much further. right now only 85 to 85.10. cheryl: we have plenty of supply out there right now. we are in the middle of winter. >> we have a tremendous amount of supply. we do not have much cold weather coming up near term. once the fiscal cliff starts getting resolved, you will see some buying going on. cheryl: bobby, i want to go back to you about europe. we have not had a lot of problees. seems like the greeks are kind to getting things. >> the last few days, europe markets have been pretty strong. as you said, a sleeping giant. cheryl: i do not want to see anything change. it has been nice. gentlemen, thank you. i appreciate it. great floor show today. uncertainty seems to be the norm in washington these days. last year you have the debt ceiling convey. congress had trouble putting together a deal. now the u.s. may
of a compromise on the fiscal cliff stalemate in washington. eamon javers standing by in a moment with information on a bipartisan letter from lawmakers that's. putting tax hikes and entitlement cuts firmly on the table. >> i'm bill griffeth. let's show you, and the charts tell the day's story, as it usually does. can you get when the president began speaking at business round table and we learned that at least 40 house republicans are breaking ranks to talk about anything, all possibilities as they said in an open letter. right now the dow is up 110, near the highs of the day. 13,062.59. the nasdaq is going the other direction. blame apple and overall technology having a tough day. down 13 points right now on the nasdaq at 2982. the s&p is holding with a gain of about five points. we'll have more on the markets in a moment. first, let's get to what's going on in washington. more republicans breaking ranks to join what we hope will be a bipartisan call for higher tax rates and entitlement cuts. eamon javers on capitol hill has the very latest details for us. eamon. >> reporter: hi, bill. that lett
to go, anywhere closer to a deal of the fiscal cliff? if you listen to lawmakers, the answer is no, but cumberland advisers thinks a compromise is brewing. >> hundreds of thousands of cars destroyed by hurricane sandy, but as drivers rush to replace them, you may be forced to pay a higher price. >> huh. a car salesmen or congressmen? who do americans trust the least? the new numbers and lou dobbs taking up that up. >> how apple is expanding its empire into the crib. >> my goodness. there's little siri there and little macbook. goinged to floor of the new york stock exchange, and, lauren, economic data, down just a little bit in the red today, down 22 points 37 >> yeah, it is the first trading day of the new month. december, a strong month historically for the stocks, but there's a push and pull going on between market forces and the economic data, and we're in the red across the board, relatively flat this monday morning. the data, u.s. manufacturing activity last month lowest level since the summer of 2009, but then we got a construction spending report that was good. in october,
, getting his gangnam on. our very own neil cavuto bringing his fiscal cliff news straight ahead. you're looking at gold, lots of it jumping into gold and silver% as a safe haven. actual bars of gold. help investors get in on the action. melissa: we have been talking about it on fox business, the next great government bailout. going to save the federal housing administration. time for stocks as with every 15 minutes, let's had before the new york stock exchange, nicole petallides standing by. down 13. nicole: this is one of those markets with a lot of anticipation. every focuses on the fiscal cliff. tomorrow is the all-important jobs report for a lot of folks have been hearing more economic news which has been more dismal lately. talk about more layoffs they have seen in november. right now the market is not too far off the unchanged line. the acidity holding 1400. the tech of the nasdaq still below 3000. today apple is now moving into the green and that is one of the reasons why it is holding on to a quarter percent gain. apple $700, 705 in september traded as low as 518 today. certa
't they know about the fiscal cliff? >> they look to be down 10%. >> we'll watch it. as people know in this market, many times the stock price has been going up. we'll keep an eye on this. it may be throwing people. what does it say about copper overall and the price of the metal. >> i worry, by the way, watch energy 21. this is exxi. another company that bought old properties. one of the things that's happening that's driving this, okay, is that there's new technology. american technology that's able to access oil that the big guys have given up on whether it be exxon given up on energy 21 has or bp and it turns out that these fines may have been bigger so pxp takes advantage of the fact there's new technology. pxp is a deal maker but ready to trade because capital gains taxes are going up. could be a fiscal cliff. the gulf is hotter than it's ever been even a few years ago it was ice cold. >> big story in the journal about exploration in this country. production 15-year high. brand new chapter here. look at the bottom of your screen. citigroup is cutting 11,000 jobs. we want to ge
it comes to the fiscal cliff. but tim geithner just told cnbc that we're going to go over the cliff unless tax rates go up. at the same time, two dozen republican house members signed a bipartisan letter with democrats defecting from the boehner plan. in the meantime, a nice game for the day for the dow, but a stunning selloff for apple. do you know what? fiscal cliff or not, the s&p 500 is up 12% year to date. that is a handsome gain for investors, an optimistic year, believe it or not. and we already bailed out detroit's auto industry. but now, at least one motown politician is telling president obama he should bail out detroit bankrupt city government, too. this sure isn't the free market, and i asked why should a texas taxpayer bail out detroit? >>> breaking news from syria, and it is a blockbuster. the assad regime is walking and loading its chemical weapons, ready to use them on its own people. nbc's chief pentagon correspondent joins us now. jim, is this the red line president obama was warning about? >> well, not quite yet. u.s. officials tell us that the syrian military is poised
one major stock clearing house was raising margin requirements. and then there's the fiscal cliff. analysts citing fears about a hike in capital gains tax in 2013. rick santelli has been talking about this, though, the things that were up in 2012, those are the things being sold now, whether that be gold or any number of assets that rose appreciably over the course of the last year. we'll be talking about the future of apple and the outlook for its stock a little later this morning with jonathan geller of the boy genius report. >> good old bump on the road on the way to a trillion dollar market cap. got to 600 pretty easily. and now it's back at 500. above 600 i guess. tough to get to a trillion dollar market cap. cisco got to 600 billion once, too. it's at 100 billion. apple still at 500. we talked about are they going to come out with the chartreuse slightly smaller mini ipad. and that's going to be the -- a lot of people waiting in line for that one. >> i do have to say, i'm in the market for a mini ipad. >> not for the max ipad? >> no, i want something smaller to carry around,
over the fiscal cliff if republicans don't give in on higher taxes for the wealthy. a little bit of trade data out of the uk. i didn't have a forecast for this. adjusted global goods trade deficit 9.5 billion. september unrevised. forecast here forecast at 8.65, so that is a wide deficit than forecast. adjusted 4.5 billion. sterling not reacting huge amount. european stocks today are firmer. up 0.4% for the ftse. xetra dax continues its strong momentum, we are trading at 52 week highs and up now about 27% for the year. bond markets which is where we stand with yields, spanish ten year yields slightly lower, but we were 5.2% beginning of the week was the handle. currency markets, not huge changes. euro-dollar just below 1.31, dollar-yen 82.44. euro trading, though, at a fresh day high it must be said. we have comments coming out of china on the smartphone segment. apple's rang in china smartphone market which will become the world's biggest this year down to number six in the third quarter. facing tougher competition from chinese brands. this is the research firm idc coming out wi
to hear out of the fiscal cliff discussions mailing the rates where they are. that will, of course help utilities. take a look at that excelled you. liz: that is exactly what we are doing. natural gas. it is up 4%. crude moving lower. tell me about that moves and natural gas today. that is no small chunk of change. >> it is kind of funny. everyone has different stories. i kind of feel left out here. it was a gooddmove on natural gas today. my primary focus is on crude. going forward, from here, i think we are just in a range. we got up to $90 on monday. i think we will staff a little higher. if we do go over the fiscal cliff, how long we stay there for stock. liz: you start to see some real moves and action at those levels. >> $90, we came right back off. until we get a more infinitive idea of where we are going, that is when you think we will see the build up above $92. until then, we are in a range between 90 and $85. you should just say armageddon on 12 / 12. liz: so great to see you on the floor show. they were simply the best way to get better yields. now more than 200 companies ar
this before, haven't we? what do average americans want to see in a fiscal cliff solution. we've got the exclusive results of our exclusive cnbc all-america economic survey. >>> now to everybody's all-american, sue herera standing by at the nyse. >> you're sweet, ty. thanks. >>> we're a little bit on the downside. we really kind of retraced a little bit on the dow jones industrial average. previous to this we were solidly in the green in all three of the major market indices. the dow now down 14 1/2 points. nasdaq up eight. the s&p is down just a fraction. of course we are also watching apple on the back of yesterday's drop. the stock today is traded up $4.82. that's just under a percentage move to the plus side. it's rebounding, still at bear market territory, however. it has lost over $50 billion in market cap over the past few days alone. our bob pisani joins me here on the floor of the nyse. what are you hearing from traders? the market is drifting a little bit. the focus is on apple. there seems to be a little bit of enthusiasm that it can come back to the up side. >> we were up
over the fiscal cliff. just in case, though, we've got some experts on happened to help you protect your money. here's how we stand right now, though. it's been a generally positive day for some of the blue chip averages. the dow among them. up 57 points right now, near the highs of the session at 13,003 and change. the nasdaq continues lower. you can blame apple. technology suffering as a result today, down 12 points right now at 2977. the s&p is up 2.25 points at 1416. with less than an hour to go in the trading week, another week without a deal to avoid going over the fiscal cliff. while today's positive jobs report did give markets a boost early on, it wasn't enough to get a significant rally going and to continue it on. so what's it going to take to get some conviction back in this market? >> that's in today's "closing bell" exchange. gentlemen, great to have you joining us here on "closing bell." i think bill pretty much cede it. what is it going to take to get conviction back in this market? i kind of know the answer, but i want to hear you guys say it. give it a crack, jim.
catching a lot of people by surprise. >> it's a fiscal cliff decline. this is the greatest capital gains generator of our lifetime. i would love to see what the gains are going to be next year. but i would be saying you need to sell it. we have no idea where the capital gains are going to go, we're going to go over the fiscal cliff, what do you have to lose, the rates are going to go up. i don't think it makes any difference two tim geithner says. >> it is so widely held by so many who want to play the stock market, let's say, beyond just the capital gains, whether it's in taxable account organization not and it also has the psychological impact that this is the one that i'm going to get out of because i'm afraid of what's coming in general? >> this is the stock, yes, it's cheap, now once it goes down, we have a million reasons, well, it's a nokia phone, well, it's china. ipad miniis available. this is a stock that's so widely owned. it reminds me of sirius satellite. every doctor, every dentist owns apple. they don't know the price per share, they just know it is the proxy for the marke
the recovery in housing. remember that? we are always talking about fiscal cliff but what about housing? is everything in your portfolio still depend on a recovery or is having an overall market driver lost its punch? liz and saunders, chief investment strategist at charles schwab and which sidles through and why she thinks the recovery is just beginning. this company depends on you making trades for your portfolio and so far you the retail investor are still on the sidelines. td ameritrade joe moakley weighs in on that, on whether the age of the supersized bank is over and the massive life change he made off of the sidelines and into a real football game. let's get to the floor show. we have freighters at the stock exchange, cme group and nynex. give me your thoughts. we go through grinding higher as far as the broader markets are concerned except for the russell which is looking weaker right now. just turned positive. we are all green for the major indices. does this continue through tomorrow? >> hard to tell. if you look at the way the markets have traded on an intraday basis we have
and congress -- ♪ you are now screwing up this fiscal cliff stuff royally with your hard line positions and your ridiculous protestations that you can't compromise. here's why. we are close, very close right now, within our grasps, to becoming the leader of the world when it comes to technology, innovation, natural resources, and finance. you are the only thing standing in our way. you are our ball and you are our chain. we saw glimmers of it today. like today dow rallies 40 points, s&p gained .33%, nasdaq .52%. whether it's the ceos of the biggest of the big,or the smallest of the small. tonight's guest of lumber liquidators, the intransigence the mean-spirited debates, the pledge is not to raise taxes, it's costing this nation a once in a lifetime opportunity to reassert itself as the leader of the free world. and faster growing the repressive communist world to boot. your inability to give us a deal, any deal is crushing our economy. allow me to explain. since i read @jimcramer on twitter, people say i'm biased. i believe that the compromise which all the common sense people are look
, the fiscal cliff, so much uncertainty. where do you put your money? go to the big caps. look at the winners among the big cats. not huge, but this is where people are puttinggtheir money. they want it in safety. they are not putting it in gold. if you have to be in the market, go to the big cats. that's what's happening. liz: president obama discussing the fiscal cliff, and, plus, speaking live to the iowa governor, his state facing a double whammy if we go over the cliff. what compromises he'd love to see come out of washington, and how he believes they could reach them. this is a guy who deals with the democratic senate, so, really, he knows how to cross the aisle to make it happen. david: somebody else you know about, with all the talk about tax increases, the idea of a simple flat tax dead? we'll see. forbes doesn't think so. there's a news conference along with washington lawmakers to push for the flat tax. he joins us later this hour. liz: first, what drove the marketings for today's data download. stocks ending lower, struggling for direction most of the day, unable to hold gains tra
in washington. speak up for the fiscal cliff is part of the half trillion dollars in cuts to the pentagon. the defense has been saying we will not plan for sequestration's because they don't want to be cautious because it is like a gun to the head. they're now looking into planning for this because we are getting pretty late, and that may become a reality. back to you. melissa: rich edson, thank you so much. lori: let's continue this discussion. it is going to happen, it is exactly what the democrats want. according to scott hodge of the tax foundation. what are some alternatives to raising revenue? joining me with some ideas. to your point, you're written quite extensively on this topic. it seems the economy is poised to fall off the cliff and that's what the democrats and the president wants to happen. >> they want to allow all the bush tax cuts to expire. it happens naturally automatically. they don't even have to vote for it. in january we had to lower taxes for everybody. getting it very simply. lori: a lot of people are concerned. if we do go over the cliff, there's no resolution fo
this morning begins in washington where fiscal cliff negotiations according to the "times" has "collapsed." at least for now. with less than a month until the deadline, who blinks first if anyone? >> goldman takes dell from a strength to a buy. is it time to look at the stock and maybe even other players in the beat up personal computer sector? >> manufacturing data out of china. not bad. 50.6. that's the highest in seven months. although shanghai again trades lower even europe's pmi improves a touch in november. first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the
of job growth. a fiscal cliff go over -- >> snatching victory from the jaws. >> a superstorm. nothing can stop the generation of jobs in this economy. >> there's a great article today in one of the papers about how apartment building, we have a shortage of apartments and shortage of housing and shortage of autos and shortage of office buildings developing, shortage of shopping centers, shortage of shopping malls. this is what begins a movement. you have to hire eventually. now you could say people are not looking for work, come on. look, jobs are here. they can -- it can be just easily reversed if you have no idea what is the future because of washington. >> given the data points that we've had in terms of claims numbers that did reflect an impact from sandy, they said 85,000 jobs or 86,000 jobs were sliced because of impact of sandy. average hours worked unchanged. doesn't that -- i don't know -- doesn't that bring into question a little bit the participation in the survey. how can it have no impact whatsoever? it seems curious to me. >> it does call into question whether these numbers c
, with what we have seen, with the fiscal cliff, it is virtually impossible. i think that senator demint can do more running the heritage foundation the way she would like to rather than sitting in the senate. dagen: does this also speak to him resigning from the senate, the power of the tea party, perhaps? >> i do not know it is the waning power of the tea party. i spoke with senator demint out and he feels that we have to do a better job with that. i believe that he thinks he can take the heritage network, and they do have operations around the country, at the state level, find out what works at the state and local level. there are models, social policy, education, welfare that have had some success out in the country that reflects conservative ideas. match that with the researchers in washington that to the policy work for heritage. connell: i think a lot of people will hear or read about this today and think about the conversation we have been having about the future of the republican party. does the tea party still have, you know, lindsey graham just put a statement out saying he is ver
on in town. in washington news, both parties hinting at renewed talks on the fiscal cliff. the acknowledgement of open lines of communication passed for encouraging news. a new survey finds more than 60% of leading investment professionals predict a shorp stock decline in the market if the government fails to come up with a deal. in this case defined as a more than 10% drop in the dow. 56% surveyed foresee a deal to avoid the cliff by year end, 44% predict failure in the ongoing negotiations. as for corporate america, through yesterday's close, there have been # 70 announcements of special dividends. these special difference deebds are valueded a more than $30.1 billion. among the latest names, mcgraw hill will pay a special dividends of $2.50 a share before year end. and drop its previously announced plan to buy back up to $200 million more of stock this year. >> everybody's paid their dividends this year, so they won't be paying them next year. >> this is a major issue. what's going to happen is -- we have two great economists onset. but that money will get annualized, s
pulling off their own plan to deal with the fiscal cliff. connell: the white house predictably saying, no deal. the parameters are there now. we can start to imagine what a deal may look like. >> i think that is right. they have been adamant in saying we want more revenue. they have kept the rates down. they have had spending cuts. i think they will find a deal just over a trillion in revenue. dagen: it is a turnaround for the republicans to say that we will raise revenue. how they get to it is very different from anything we have heard from president obama. >> i think that the president and the democrats are dug in. they want to raise the marginal tax rates for the upper earners of america. they are willing to allow a deal to lapse rather than have the tax rate rise. connell: maybe there is not a deal taking shape. they could say something like, we will raise these rates, but instead of $250,000, it has to be $500,000 or $1 million. there are ways to play a round with this. >> i think the republicans would lose, frankly, being the majority in the house. if they go ahead and give the
, is that right? >> another day, another huge company beating up the dividend payout to beat the fiscal cliff and the higher tax rates on dividends, so, join safeway to over 170 companies, that's the latest number we've got from the wall street journal, but i bet you it's even higher than that, so they join wal-mart and weight watchers and ethan allen just to name a few. >> i should be keeping track, it was 173 a couple of days ago, i've got to believe it's pushing 200 by now. i'll he get a number. >> yeah. imus: thank you very much. by the way, the dow is up 14 points and that's where we have it this thursday morning. time is money, 30 seconds, here is what else we've got for you today. two states vote to make marijuana real including for recreational use. and tommy chong will join us, and you never know what he's going to say. concussions, they're a serious issue for the nfl and its players of course, but it's a violent sport, football. and injuries are almost bound to happen. we'll talk to a former player who now advises the union on the concussion issue. and we'll talk to a chiropractor w
, here we go. it's been a busy week. fiscal cliff week for the most part, a lot of other -- that and a lot of other news to talk about today. we have the big job numbers coming up today as well for the month of november. it won't be quiet as critical as the job numbers were. remember that? that was right before the election. but still, it's very important. we'll be on top of that and all of the other issues for you and with you and hearing from you at 866-55-press. >> that's our toll-free number 866-557-7377. follow us on twitter. join us on twitter. more and more people do. at the whitehouse, so many of the reporters were saying how much they love following us on twitter. you should, too, at bp show @bp show @bpshow and facebook/billpressshow. team press here for the fifth day in a row all together. this is a new record action i think. here we are five days. nobody took a day off. peter ogburn and dan henning. >> happy friday. >> and cyprian bowlding wearing god knows what hat this morning. our videographer in chief. >> the washington fue
fiasco. >>> plus, congressman chris van hollen on john boehner's latest concession on the fiscal cliff. michael eric dyson and donna genteel-o'donnell on the political fallout. howard dean on chris christie's big decision on the obama care exchange. and apple's ceo breaks big news to nbc's brian williams. >> next year, we will do one of our existing mac lines in the united states. >> tonight, a story of economic patriotism in an era of bain capital with e.j. dionne. good to have you with us tonight, folks. thanks for watching. the reality start to set in on members of the republican party. republican senator jim demint of south carolina is leaving kplil capitol hill to become president of the heritage foundation. don't cry for demint. the out-going president of the heritage foundation made $1.1 million according to 2010 tax filings. demint will do just fine. it's not just about the money. the senator realizes he could be more effective for the conservative movement if he's not attached to the dysfunctional party known as the republican party. in a statement, demint said "i'm leaving th
're fiscal cliff cliff fatigued to death. it's a real turnoff and we know it, but i want to address the issue in big picture terms with you because you're big picture thinker. i think at the end of the day we will have higher taxes on wealthy people, promises to cut spending somewhere down the road and don't worry about the debt, ignore it it. i think that's the outline of a big picture deal. what do you say? >> i sort of agree, stuart. there will be higher taxes. i do think the republicans will extract a couple of entitle reformat. a new way to calculate the cost of living adjustment and social security, maybe a higher payment by beneficiaries who are wealthier in medicare and finally the last point you make is the really intriguing one, that's the debt ceiling. and my hunch is the republicans will cave on taxes and they'll come back to fight again later in the winter on the debt ceiling and they could really extract major spending cuts by late winter. >> so you don't think the president will get the blank check that he wants, no debt ceiling? he wants no debt ceiling, you don't think he'll
where negotiations on avoiding the fiscal cliff took a new turn. the sticking point up for debate by the president and as well as congressional republicans. >>> also this morning, a "world news now" special report. why some people who have already been born, get this, may live to the ripe old age of 150. that's right. 1-5-0. the secrets of staying young revealed. >> would you want to live to 150 is the question? >> always a great question, how old do people want to be? the answer, to live as old as you have a good quality of life physically andmentally. if you are 150 and out of it. what is the point? >> feed you some apple sauce. >> thank you, thank you. can you wipe me now. no one wants that kind of life. 150 healthy. >> the gifts parents can buy now that will make the kids go crazy on christmas morning. the science of picking the right toy. as a parent, i can tell you. look at that. so excited. nothing like seeing that unabashed joy on your child's face. this is all? >> christmas is about the kids and those moments right there. do we lose its we getlder? >> totally. >> here is
than not. >> all right. well, with 25 days to go until the year-end fiscal cliff deadline, president obama and speaker boehner spoke on the phone yesterday for the first time in days. both men agreed not to publicly characterize how the conversation went. but the stalemate in negotiations entered new territory yesterday with treasury secretary tim geithner suggesting the white house is ready to go off the cliff if republicans refuse to raise taxes on the 2%. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest americans -- remember, it's only 2%. the size of the problem in some sense is so large, it can't be solved without rates going up as part of that. again, i think there's broad recognition of that reality now. >> one fallback option republicans are reportedly considering is to accept tax cuts for the middle class, allow rates to go up for the wealthiest, and then start the fight over again during de
for the power transfer in a most recent and main proposal last week on the fiscal cliff. >>> now no john mcafee. the millionaire software guru wanted in questioning in the neighbor's murder in belize. maybe you heard mcafee. got arrested in guatemala overnight. shouldn't come as much of a surprise here. the whole time supposedly on the run, he was handing out tv interviews like candy. but listen to this. now the mcafee is in jail, he is blogging from behind bars. the story just keeps getting more interesting, shall we say? more on the blogging here in a moment. but first, i have to play you this video. this is the video of his arrest. surprise-surprise. he was with a camera crew from vice.com when guatemalan police took him in. the charge, entering that country illegally. take a look here. exclusive video of vice.com. >> they're trying to arrest me. guatemalan jails have beds. >> john, where are you going? >> to jail. >> when will you be out? >> and off he goes. to think, just yesterday, mcafee was telling us he was seeking asylum in guatemala. been on the run since 10th of november for tha
the fact that the fed is stepping on the gas, and, depending on what happens with the fiscal cliff and of course the economy next year, i think the dollar is going to drift a little bit weaker. nothing dramatic, but i think it will drift a little weaker as the year progresses. > thanks tim. have a good trading day. > > thanks. just in time for the holidays, hostess brands' layoff of more than 18,000 employees is part of a bulge in end-of-the-year layoffs this year. job cuts are up for the third straight month, and our cover story looks at whether this is a trend that may continue in the new year. job cuts nationwide were up for the third consecutive month in november. november would have been lower, but hostess brands' 18,500 layoffs as a part of bankruptcy pushed the number higher. "it's not a reflection of the strength of the economy as a whole." since january, the number of announced layoffs is actually 13% lower than it was in 2011. that's despite a dreadful january and february that saw more than 50,000 layoffs at american airlines, pepsico, j.c. penney, metlife and procter an
of the rich, particularly on this sort of fiscal cliff fight. you could be forgiven for thinking the only thing on which republicans and democrats are really disagreeing are these taxes on the top 2% when really, there are a lot of other factors that are holding up a deal. but democrats have been very savvy in their portrayal of republicans in the last few months. >> i think they have. they won the political battle. charles, bring it round to the fiscal cliff because it's all interwoven here. it's all about basically where should government be spending money, where should cuts be made, and who ends up paying the lion's share of this. my sense is this will not go over the cliff and the reason it won't is that public opinion is now raging so hard against the republicans in all the polls that you see, they've lost the argument so why go over a cliff and make it worse for yourselves. >> i think you're right about that, because all of the polls i've seen say exactly what you're saying which is that the republicans will be blamed if we go over the cliff. but the first part of your question i th
for the "fiscal cliff." the deadline for the president and congress to find a way to avoid tax increases and spending cuts is 25 days away. president obama made a special point to sit with a middle class family in virginia this afternoon. he was trying to offer an example of who would be hurt by the republican tax proposal. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem gives the sense of the costs involved in very personal terms. >> republicans are standing behind their counter-offer to chose tax loopholes and limit some deductions. they say the president needs to deliver a new plan that they can agree on and soon. it's also important to note that congress is scheduled to adjourn december 21st and the president is supposed to be headed to hawaii for vacation on december 17. >>> after doing some downsizing starbucks is back to brewing up some expansion plans and that includes another san francisco store. at market and sanchez. cbs 5 reporter mike sugerman tells us some small businesses in that area are trying to gri
." the administration is taking a tough line on the fiscal cliff as far as the obama resumes contact with house speaker john banner. treasury secretary says that the administration will absolutely let the double whammy take effect as scheduled on less republicans give and to president obama as the man to raise tax rates at all where income levels. geiger says the problem is too big to be solved without raising tax rates on the wealthy. he drew a fierce response from republicans saying that the statement was stunning and irresponsible. egest republic golegest republis ordered protesters supporting and opposing president mohammed morsi to leave the area around the presidential palace that has been the site of fierce clashes. the guard gave broad protesters on both sides time to clear out. >> the death toll from the typhoon hit the southern philippines has climbed to 350 people today. it hit hardest in the southern philippines where entire families were washed away. and the four injured people are still missing. nato has called on north korea to cancel its plans for a second rocket launch. ambassador stat
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